The Federal Reserve announced a 50 basis point rate cut
On September 19, the U.S. Federal Reserve announced the official start of a rate cut cycle, lowering the federal funds rate by 50 basis points to 4.75%-5.00%. This is the first rate cut by the Federal Reserve since March 2020, and it also marks a shift from a monetary policy tightening cycle to an easing cycle. Federal Reserve Chairman Powell said that based on the overall economic situation, it is time to adjust the policy.
US lawmakers accuse SEC Chairman Gensler of politicizing cryptocurrency regulation
On September 18, French Hill, chairman of the U.S. House of Representatives Digital Assets, Fintech, and Inclusion Subcommittee, criticized SEC Chairman Gary Gensler at a hearing, saying he politicized cryptocurrency regulation. Hill believes that Gensler's actions have led to market confusion and uncertainty in the cryptocurrency field.
Glassnode: The Bitcoin market is currently in a stagnant period, with both demand and supply being inactive
Blockchain analytics firm Glassnode reported on the X platform that the Bitcoin market is currently in a stagnant period, with both demand and supply being inactive. The market's realized market value remains flat, indicating minimal capital inflows and outflows, reflecting a very inactive market.
BIS and global banks jointly launch blockchain-based cross-border payment reform plan
The Bank for International Settlements (BIS) has partnered with major banks and credit card companies including JPMorgan Chase, Deutsche Bank, UBS, Visa and Mastercard to develop the blockchain-based Agora project, which was launched in May and aims to revolutionize cross-border payments around the world.
Tether holds $97.6 billion in U.S. Treasury bonds, ranking 18th in the world
Tether's official website shows that its reserves are mainly composed of more than US$97.6 billion in US Treasury bonds, making Tether the 18th largest holder of US Treasury bonds in the world, surpassing several countries such as Germany, the UAE and Australia.
Trump buys burgers with Bitcoin at New York restaurant
Republican presidential candidate Donald Trump made history by becoming the first former US president to use Bitcoin in a transaction. He used Bitcoin to buy a burger at a bar and restaurant in New York City that accepts cryptocurrencies, an important moment for Bitcoin to integrate into the traditional business sector. Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or FameEX official views.
